Wealth management Boston

Pay Yourself First: Save for Retirement, Then College for the Kids

This article was originally published by U.S. News and written by Kristin McFarland, CFP®, Wealth Advisor at Darrow Wealth Management

Even when finances are tight, there are several strategies to make the most out of your income. 

Most parents want to provide as much as possible for their kids. But between summer camps, private schools and college, parents sometimes overextend themselves, putting their retirement savings on the back burner. Juggling multiple financial goals can be difficult.
A baby born in 2013 will cost middle-income parents roughly $300,000
until age 17, accounting for inflation.
For many families, there’s a gap between covering the required basic monthly expenses and the additional income needed to fulfill other financial goals – such as retirement contributions or a college fund. As a financial advisor, we often stress to clients the importance of paying yourself first.

Continue reading…

Sign Up for Weekly Investing Insights


Retirement Planning Guide

From saving for retirement to income and tax strategies in retirement, this comprehensive guide covers all aspects of retirement planning.

Additional Insights

Recent Posts

Benefits of a living trust
Estate Planning

2 Key Benefits of Living Trusts

With so many misconceptions around trusts, it’s easy to understand the confusion about the benefits of a revocable living trust. A living trust (also called

Read More »

Information on this website is for informational purposes only and should not be misinterpreted as personalized advice of any kind or a recommendation for any specific investment product, financial or tax strategy. This is a general communication should not be used as the basis for making any type of tax, financial, legal, or investment decision. Disclosure